The wide consensus regarding the retail sector currently is that brick-and-mortar stores are being pushed to the brink, as online retailers are steamrolling past physical retailers.A contrarian view was revealed by Pacific Crest, a unit of KeyBanc, in a note released in March. To the question whether physical retail is dying, the firm said the answer is no. However, the firm thinks business models must be re-invented as e-commerce continues to grow. The firm sees select opportunities across consumer, REITs and tech to capitalize on a rapidly shifting landscape.Rationalization to AcceleratePacific Crest expects rationalization of mall-based apparel specialty retailers and department stores to accelerate amid deflationary pressure and overcapacity. The firm said store closures at weaker retailers could make stronger retailers concentrate store fleets at only the most productive centers.Read more